The Economy

Hat/Tip to Doug Ross @ Journal. Just a few short days ago, President Obama uttered these words in his 2015 State of the Union speech: At every step, we were told our goals were misguided or too ambitious; that we would crush jobs and explode deficits. Instead, we’ve seen the fastest economic growth in over a decade, our deficits cut by two-thirds, a stock market that has doubled, and health care inflation at its lowest rate in fifty years. Now I won’t spend time debunking the four lies he told in that short excerpt, instead let’s look at just his […]

Hat/Tip to Nick Sorrentino at Doug Ross @ Journal. He was instrumental in the Allied victories in WWII, but his economic policies were disastrous. A little tidbit that is all but forgotten is the fact that Roosevelt forced all Americans to turn in their gold, or else. FDR, the man who studied Mussolini, who birthed the current intrusive state, who started the drug war in earnest, who put Japanese Americans into concentration camps, who extended the Depression years longer than it needed to be and thereby contributed to the genesis of the Second World War, who tried to pack the […]

Hat/Tip to WeaselZippers. Well, way to go lefties! Now the price of eggs and milk and, well just about EVERY FREAKIN’ THING at the grocery store is going to go up in price! Not to mention the cost of a Big Mac, or Whopper or etc… At the stroke of midnight today, 19 states increased their minimum wage. Residents of three more and the nation’s capital can expect hikes later on this year. A year ago, the White House and Democratic lawmakers embarked on a campaign to make the minimum wage a defining issue in the 2014 elections. And although […]

“Don’t Ask, Don’t Tell” may not be policy in the military any longer when it comes to a soldier’s sexual preference; but it is definitely government policy when it comes to reporting on the state of our economy or on unemployment data. When a government agency or the President spouts a glowing feel good statistic about how well the economy is doing, they prefer you don’t ask why their numbers don’t square with your reality so they won’t have to tell you the truth. For the minority of Americans who are wanting to know the truth, they generally have to […]

Look! Just in time for Christmas! That Obama guy finally got our economy back on track! Now get out there and spend, spend, spend! At least that’s what the media wants you to believe. The U.S. economy roared into overdrive in the third quarter as consumer and business spending fueled the biggest expansion in more than a decade. Gross domestic product grew at a 5 percent annual rate from July through September, the biggest advance since the third quarter of 2003 and up from a previously estimated 3.9 percent, revised figures from the Commerce Department showed today in Washington. […]

Obama is the most pure statist in American history to ever occupy the Oval Office. If you look at the unprecedented spending undertaken by this administration, then you see that we are on a course of financial ruin.

Remember when we used to earn interest on our bank accounts? Ben Bernanke put a stop to that by printing money like it was going out of style. And now Janet Yellen is one-upping him. Forget zero interest, welcome to negative interest. New Obama Administration reserve rules mean you’ll have to pay the bank to store your money. As the WSJ reports, far from paying for the privilege of holding other people’s cash (and why would they with nearly $3 trillion in positive carry excess reserves sloshing around) US banks – primarily of the TBTF variety – “are […]

Hat/Tip to Terence P. Jeffrey at CNSNews. Yep, only 8 weeks into the new fiscal year and just to pay the freight on our debt, the Obama Treasury has already had to issue over a TRILLION DOLLARS in new debt. The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the […]

Hat/Tip to WeaselZippers and Ali Meyer at CNS News. The “Global President” strikes again… Another amazing Obama record! Via CNS News: (CNSNews.com) – The number of foreign-born individuals holding jobs in the United States hit a record high of 25,019,000 in September, according to data from the Bureau of Labor Statistics (BLS). The BLS has been tracking the number of foreign-born workers annually since 2005 and monthly since 2007. The BLS does not distinguish between foreign-born individuals who are in the United States legally and those who are here illegally. “The foreign born are those who reside in the United […]

Hat/Tip to Eric Owens at The Daily Caller. Obama’s economy continues to bring Hope and Change to Americans of all ages and income brackets. Well, to be more specifi, the lower income brackets get the Hope and the very rich continue to keep the Change. The economy is stagnant — so stagnant that over 35 percent of all Americans have been reported to a collection agency for bad debt and The Washington Post has advised newly-minted college graduates to give up hope and go live in their parents’ basements. However, The Daily Caller never dreamed it would come to this: […]

It has been some time since this topic has been discussed. You see, 2014 has been a year of changed focus. Much of the year has gone by with us focused on the very real threat of Islamic terrorists who seek to do us harm. And on the rest of the Middle East, Israel, Palestine, etc. Ebola has commandeered its fair share of news coverage with the deaths it has caused and even coming to the United States, and rightfully so. All of these are serious issues that need to be discussed. They affect each and every one of us. […]

Hat/Tip to TownHall.com. It seems all areas of our society are waking up to the nightmare that is named Obama… As a celebrity chef, cookbook author, and TV personality, Emeril Lagasse is one of the most well known chefs in the country, and with a net worth of about $50 million and a food empire that brings in an estimated $150 million, he’s one of the wealthiest, too. So it was surprising to hear him say at a recent event that he has “nowhere to go, really—other than broke.” The reason? Predictably, Big Government. “It’s becoming a very challenging industry to […]

The economy isn’t growing because you’re hoarding money. Also, if you had any brains you’d get rich. That’s what the Federal Reserve thinks of you folks not living on Wall Street. The Great Facilitator of big government Federal Reserve is finally having to admit that, after six years of printing trillions of dollars and giving essentially free to the too big to fail or trust banks on Wall Street, their Quantitative Easing and Zero Interest Rate Policy program has failed to stimulate the economy and put people back to work (it did do fantastic job, however, of making the rich much richer). […]

Census figures show that over a third of Americans are receiving some means tested welfare; i.e., Medicade, food stamps, housing assistance, and other forms of Temporary Assistance for Needy Families as was reported by Fox News in late August. Of course, this is not surprising to anyone paying attention. This so-called recovery which we are told we are experiencing has been very lopsided in favor of the upper income folks and especially the Wall Street crowd. Inflation is low according to the Federal Reserve, but most people are seeing their cost of living go up while income is stagnant or declining. […]

Common sense tells us that if something becomes more expensive, less of it is consumed. And, if that something happens to minimum wage workers, the same is true. A few days after Labor Day American Thinker ran a post titled Fast food strikers: meet your replacement robot. The article reported on how the far left SEIU had organized protests for raising the minimum wage to $15 per hour in several cities across America. Most of the protests took place near fast food restaurants. Many of the protestors were arrested for blocking traffic. The author believes that these protests by striking […]

Unfortunately for the romantics out there, it is not love that makes the world go around. It’s money that makes the world go around, right? Well, if you think of money as those units of currency you carry in your wallet or pocket, then no it’s not actual money. Actual money (currency) is in relatively short supply. No, what makes the world go around is money created out of thin air; otherwise known as credit or debt. Think fractional reserve lending. Credit/debt is money that was never generated by the real economic production of a good or service. Credit/debt is, however, […]

Today’s post complements yesterday’s post in which we talked about the faux recovery America has experienced since the so-called Great Recession of 2008. Monty Pelerin’s World has posted a graph and a chart that demonstrate clearly why most Americans are having a harder time making ends meet today than they were a decade or so ago. The following graph shows that most working Americans have seen their nominal income increase over the last 14 years; but their real income after taxes and inflation has fallen by about 9% on average. A fortunate few have earned promotions every three or four […]

Recovery Summer Episode VI, Revenge of the Part-Timers. In the new landscape of the American labor market, jobs are easier to come by but hours remain in short supply. New government data released Thursday showed the economy added 288,000 jobs in June — the fifth straight month gains have topped the critical benchmark of 200,000. The unemployment rate fell to 6.1 percent, down more than a percentage point over the past year. But there’s a gnawing fear among some economists that the improving data provides false comfort. The number of people in part-time jobs jumped by more than 1 million […]

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